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Trussville council approves Series 2026 school warrants after debate over public access to track
Summary
After debate over public access and timing, the City Council unanimously approved an ordinance to issue Series 2026 General Obligation School Warrants that will refund Series 2015 debt, lower interest costs and free about $920,000 for a $1.2 million high-school track replacement.
The City Council of Trussville on Feb. 10 approved an ordinance authorizing Series 2026 General Obligation School Warrants to refund the city’s Series 2015 school warrants, freeing roughly $920,000 for a planned $1.2 million track replacement and related improvements at the high school.
Rice Advisory Managing Director Chris Williams and bond counsel Rod Kanter told the council the refund preserves the original payment schedule while reducing the interest rate from about 4.2% to about 3.38% over the remaining term. Kanter said the sale was scheduled to close Feb. 26 and urged the council to consider the ordinance immediately so the city would not jeopardize market access.
The proj…
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